Leading global investment firm KKR has announced the appointment of Annie Young-Scrivner as Wella’s new Chief Executive Officer.
Young-Scrivner has worked in more than 30 countries and has a rich understanding of global markets. She’s the former CEO of GODIVA Chocolatier and has held several senior positions with Starbucks Corporation and PepsiCo.
“I am honoured to join Wella at such a pivotal time in the brand’s history, as it celebrates 140 years of partnering with beauty professionals and salon owners,” says Young-Scrivner. “I’ve long admired Wella’s iconic brands and breakthrough innovations, and I am looking forward to engaging with the team as we work to grow the portfolio of brands and increase the company’s share of the $90 billion hair and nail beauty category.”
She will be replacing Sylvie Moreau, who is stepping down but is expected to remain in her role until the end of the year, when KKR’s acquisition of 60 per cent of Wella from Coty will be finalized.
“It’s been an amazing journey. I love this industry, its people, our brands and most of all, my teams around the globe,” says Moreau. “It comforts me to leave this organization in great hands. Annie is a wonderful leader who believes in the power of people and who’ll bring a fresh point to the business and to the Leadership Team, as the Wella company embarks on its next chapter.”
After the transaction between KKR and Coty closes, Wella will operate as a separate company with its own management team, operational structures, and will be comprised of the assets of Coty’s Professional and Retail Hair businesses, including the Wella Professional, Sebastian, Nioxin, ghd and OPI brands.